We booked this Hotel through lastminute.com as a 'secret hotel' and to be honest I have seen better.
Basically it is a bit of a tired hotel; clean, but with rough edges and staff that seem to be quite jaded.
Bad points:
Timber flooring makes for a cold un-homely feeling and is extremely irritating when someone upstairs starts dragging the furniture around at 7:30 on a sunday.

The heating, while it worked, sounded like an old car so we shut it off at night and froze.

Television was only available in Spanish. CNN and BBC were available but it was impossible to change the Spanish dubbed american programs to VO like normal digital TVs

The Location is not great for visiting the city, unless you need to take the Metro or Taxi to the centre

Good Point(s): Free WiFi - It does seem though, that it is a 512K connection shared between the whole hotel (I tested it). I only got useable service at 5AM, otherwise it was below dialup speed.

In conclusion; we won't be returning.

Although a bit outdated in the decor, the hotel is well located in the financial district of Madrid, within walking distance of museums, shops and restaurants. I enjoyed their plentiful and fresh breakfast in the morning and the clean and comfortable room. The shower was broken (water leaking from the shower head) and a bit inconvenient (water coming out and splashing the floor) but the bathroom is of good size and equipped with good amenities.

The room was reasonably clean and comfortable. However, I got stuck in the bathroom for 15 minutes because of a problem with the bathroom lock. My dad had to open the lock from the outside. The bathroom window was also broken and the there was still paper in the toitlet bowl when we got the room. The breakfast offered a good selection and the staff was courteous.

Visited the hotel for a week in August 2010 and we were both delighted by the high standards here. The staff are very friendly and helpful, and our lack of Spanish language skills was not a problem at all.

The rooms are a good size, and the beds enormously comfortable, though perhaps a little modernising is needed there are no problems. The bathrooms are epic, and well equipped. Breakfast is a buffet, served from 8am to an impressive 11am with a great choice of pastries and hot food.

In terms of location, its just a short and simple metro ride into the city centre (the metro costs 1euro a trip and is a 3 minute walk from the hotel.

Top tips... leaving the hotel, follow the road to the right where you will find a great Italian restaurant (next to the amusingly named THONGS chinese).

Hotel bar and mini bar prices are of course extortionate... BUT.... if you exit the hotel and turn left, follow the road past the chinese and to the italian, turn right and walk up the hill. Take your first left, and continue up the hill (five mins max) there is an internet cafe on the right and a SUPERMARKET on the left which sells everything you could need for a fraction of the price !

Finally... don't be caught out by the bars near the hotel, they charge upwards of 10 euros for a simple drink! Head into the city or drink in one of the restaurants.